Behind every billionaire there is a story!

Reliance promises record Indian IPO

Barring something dramatic, a company with barely any operating revenues and even fewer physical assets will next month raise $3bn and so become India’s record initial public offering.

Retail and institutional investors appear, despite several risk factors, to be falling over themselves in the stampede for shares in Reliance Power.

The timing of the IPO appears to be well-chosen, given the red-hot domestic equity market, which this week saw the flagship Sensex index breach 21,000 for the first time.

Of course, the market will decide whether the IPO is successful or not. However, the offering is intriguing for what it tells us about the mindset of investors in Indian companies and the trust they place in the man pulling the strings.

The IPO is the brainchild of Anil Ambani, the billionaire industrialist who controls the company.

read the rest published by FT here:

http://www.ft.com/cms/s/0/fa1e7734-c060-11dc-b0b7-0000779fd2ac.html